CVR Energy Earnings Reports

CVR Energy reported a net loss of $105 million for the first quarter of 2025, a decrease from the net income of $90 million in the same period last year. This was primarily driven by a net loss of $160 million in the Petroleum Segment, impacted by planned and unplanned downtime at the Coffeyville refinery. The Nitrogen Fertilizer Segment saw improved net income and EBITDA, while the newly reported Renewables Segment also showed positive net income and EBITDA.

CVR Energy reported a net income attributable to stockholders of $28 million, or $0.28 per diluted share, for the fourth quarter of 2024, a significant decrease from $91 million, or $0.91 per diluted share, in Q4 2023. Total net sales for the quarter were $1,947 million, down from $2,202 million in the prior year's fourth quarter. The Petroleum Segment's performance was notably impacted by reduced crack spreads and throughputs.

CVR Energy reported a net loss attributable to CVR Energy stockholders of $124 million, or $1.24 per diluted share, and an EBITDA loss of $35 million for Q3 2024. This compares to a net income of $353 million, or $3.51 per diluted share, and EBITDA of $530 million for Q3 2023. The refining business was impacted by reduced throughputs due to unplanned downtime. CVR Partners declared a cash distribution of $1.19 per common unit.

CVR Energy reported net income attributable to CVR Energy stockholders of $21 million, or 21 cents per diluted share, and EBITDA of $103 million for the second quarter of 2024. The results were negatively impacted by lower refining margins and reduced throughputs related to a fire at the Wynnewood refinery.

CVR Energy reported a decrease in net income attributable to CVR Energy stockholders to $82 million, or $0.81 per diluted share, on net sales of $1.9 billion for Q1 2024, compared to $195 million, or $1.94 per diluted share, on net sales of $2.3 billion for Q1 2023. Adjusted earnings for the first quarter of 2024 was 4 cents per diluted share compared to adjusted earnings of $1.44 per diluted share in the first quarter of 2023.

CVR Energy reported a decrease in net income attributable to CVR Energy stockholders for Q4 2023, from $112 million to $91 million, with net sales decreasing from $2.7 billion to $2.2 billion. However, the company's full-year EBITDA reached a record high, driven by high asset utilization and improved capture rates.

CVR Energy reported a net income of $353 million on net sales of $2.5 billion for Q3 2023, compared to a net income of $93 million on net sales of $2.7 billion for Q3 2022. The company's Board of Directors approved a special dividend of $1.50 per share, in addition to the third quarter dividend of 50 cents per share.

CVR Energy announced net income of $130 million, or $1.29 per diluted share, on net sales of $2.2 billion for the second quarter of 2023. The company also declared a cash dividend of 50 cents per share and a special dividend of $1.00 per share.

CVR Energy announced net income of $195 million, or $1.94 per diluted share, on net sales of $2.3 billion for the first quarter of 2023. The Petroleum Segment's results were driven by strong diesel and improved gasoline cracks, while the Nitrogen Fertilizer Segment achieved strong results due to record production, despite lower fertilizer pricing.

CVR Energy reported a strong fourth quarter with net income of $112 million, or $1.11 per diluted share, compared to a net loss in Q4 2021. The results were driven by improved crack spreads. The company also announced a cash dividend of 50 cents per share.

CVR Energy reported a net income of $93 million on net sales of $2.7 billion for the third quarter of 2022. The company's industry-leading distillate yield drove strong results, enabling them to return value to stockholders through a regular dividend of 40 cents and a special dividend of $1.00 per share. Results were negatively affected by crude oil backwardation and high Renewable Identification Number costs.

CVR Energy reported a net income of $165 million, or $1.64 per diluted share, on net sales of $3.1 billion for the second quarter of 2022. This compares to a net loss of $6 million, or 6 cents per diluted share, on net sales of $1.8 billion for the second quarter of 2021. The company also announced a cash dividend of 40 cents per share and a special dividend of $2.60 per share.

CVR Energy announced a net income of $94 million, or 93 cents per diluted share, on net sales of $2.4 billion for the first quarter of 2022. The Petroleum Segment's results were driven by increased crude oil pricing and widening Group 3 2-1-1 crack spreads, offset by elevated RIN pricing. The company also declared a cash dividend of 40 cents per share.

CVR Energy reported a net loss of $14 million for Q4 2021, compared to a net loss of $67 million in Q4 2020. Net sales increased to $2.1 billion from $1.1 billion in the same period last year. The Nitrogen Fertilizer segment performed strongly, while the Petroleum segment experienced an operating loss.

CVR Energy reported a net income of $84 million for Q3 2021, a significant improvement compared to the net loss of $96 million in Q3 2020. The company's performance was driven by strong results in both the Petroleum and Nitrogen Fertilizer segments, with EBITDA reaching $243 million.

CVR Energy reported a net loss of $6 million, or 6 cents per diluted share, on net sales of $1.8 billion for the second quarter of 2021. The Petroleum Segment's results were highlighted by higher throughput volumes, increased crude oil pricing and widening crack spreads, but were offset by high RIN pricing. CVR Partners experienced a solid quarter with a combined ammonia utilization rate of 98 percent.

CVR Energy reported a net loss of $39 million on net sales of $1.5 billion for Q1 2021, influenced by high RIN pricing, derivative losses, and Winter Storm Uri. However, the refining business saw improved results in March, and the nitrogen fertilizer industry experienced increased demand and higher pricing.

CVR Energy reported a net loss of $67 million for the fourth quarter of 2020, compared to a net income of $44 million for the same period in 2019. Net sales were $1.1 billion, down from $1.6 billion in the prior year. The results were negatively impacted by the COVID-19 pandemic.

CVR Energy reported a net loss of $96 million for the third quarter of 2020, compared to a net income of $119 million for the same period in 2019. Net sales were $1.0 billion, down from $1.6 billion in the prior year. The company focused on reducing operating expenses and saw strong production in the nitrogen fertilizer segment.

CVR Energy reported a net loss of $5 million on net sales of $675 million for the second quarter of 2020. The results were negatively impacted by narrow crack spreads and tight crude oil differentials resulting from COVID-19 demand destruction and global crude oil price wars.

CVR Energy reported a net loss of $87 million, or 87 cents per diluted share, on net sales of $1.1 billion for the first quarter of 2020, compared to net income of $101 million, or $1.00 per diluted share, on net sales of $1.5 billion for the first quarter of 2019. The Board of Directors has reduced the first quarter dividend to 40 cents per share.

CVR Energy, Inc. announced fourth quarter 2019 net income of $44 million, or 44 cents per diluted share, on net sales of $1.6 billion, compared to net income of $73 million, or 73 cents per diluted share, on net sales of $1.7 billion for the fourth quarter of 2018.